Three super simple finance rules
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FinMeUpThree easy investment guidelines
 
Rule of 72: Doubling your money
To calculate how many years it will take to double your money at a given rate, simply divide 72 by the rate.
E.g. You earn 8% interest on your deposit. 72 divided by 8% = 9 years to double your money
 
100 minus your age rule: Risk allocation
This rule is used for allocation in riskier investment vehicles, such as stocks and crypto. The younger you are, the more risk you can typically take on.
E.g. Suzie is 35 years old. She should allocate 100 minus 35 = 65% of her money to stocks/crypto and the rest to safer investment vehicles.
 
3X Emergency Rule
Work towards saving up to 3 times your monthly income in an emergency fund. This fund must be used exclusively for unforeseen circumstances, such as job loss or medical emergencies.
E.g. You earn 20K per month. Build your emergency fund over time until it reaches 60K.